Squarespace, a leading website-building platform, has made a significant move in the domain industry by acquiring the assets of Google Domains. The two companies have entered into a definitive asset purchase agreement, which will see Squarespace taking over the Google Domains business and its approximately 10 million hosted domains. This transition comes as Google aims to focus its efforts on other areas of its business, which may or may not include AI.

Squarespace will offer incentives to Google Domain members to build their websites

The acquisition is an important strategic move for Squarespace, further solidifying its spot as a leading web infrastructure provider. Anthony Casalena, the Founder and CEO of Squarespace, expressed his pride in being chosen to serve the customers of Google Domains. He emphasized the crucial role that domains play in a business’s online presence and promised a seamless transition for the new customers.

Google, on its part, is committed to supporting a smooth transition for its customers. Matt Madrigal, Vice President and General Manager of Merchant Shopping at Google, explained that Squarespace will provide an integrated experience for purchasing and managing domains, along with other essential tools for building an online presence.

As part of the agreement, Squarespace will honor the renewal prices of existing Google Domains customers for at least 12 months after the transaction’s closing. Additionally, the company will offer incentives to encourage customers to build their websites using Squarespace’s platform and explore its other services. During the migration period, Squarespace will leverage Google’s infrastructure to ensure a seamless transfer of domains.

Furthermore, Squarespace will become the exclusive domains provider for customers purchasing a domain along with their Google Workspace subscription directly from Google for a minimum of three years. The company will also provide billing and support services to Google Workspace customers who signed up through Google Domains.

The transaction is expected to close in the third quarter of 2023, subject to regulatory approvals and customary closing conditions. While the full benefits of this deal will be realized in 2024 and beyond, Squarespace anticipates significant revenue and free cash flow growth as a result of the acquisition.

This strategic move positions Squarespace as a leading player in the domain industry, empowering businesses and individuals to establish their online presence with ease and efficiency. With its commitment to customer satisfaction and seamless integration, Squarespace’s next big move might be worth keeping an eye on.

RELATED:

• Google Unveils Exciting Search Updates, including Skin Disease Identification
• Google Messages receives Homescreen Overhaul in New Update
• Best Air Fryers in 2023

(Source)

The post Squarespace Acquires Google Domains Assets, will get Almost 10 Million Google Domains appeared first on Gizmochina.